§ 5-1-11-4 — Prohibitions; advantage in bidding; payment before delivery; technical services

Indiana § 5-1-11-4

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 1: BONDS AND OTHER OBLIGATIONS
• Ch. 11: Procedures for Selling Bonds

Text

(a) It shall be unlawful for any officer or body
authorized by law to issue or sell bonds to enter into a contract or
agreement prior to the award of such bonds with any person, limited
liability company, firm, or corporation, directly or indirectly interested
in bidding on or purchasing such bonds, for the furnishing of legal,
engineering, or other technical services, or for the furnishing of printed
bond forms or any other contract or agreement which will give to any
person, firm, limited liability company, or corporation an advantage in
bidding on or purchasing such bonds or controlling the sale thereof.
Any funds expended on account of any such contract or agreement
shall be chargeable to the officer or officers authorizing or making such
expenditure.
(b) It shall be unlawful for any officer or body authorized to issue or
sell bonds to require the successful bidder therefor to pay for such
bonds prior to the time that such bonds are delivered, or prior to the
time that the successful bidder shall have had reasonable opportunity
to examine such bonds and the proceedings had relative to the
authorization, issuance and sale of the same. Nothing in this chapter,
however, shall prevent any county, township, city, town, school
corporation or special taxing district from employing or contracting for
legal, engineering or other technical services, prior to the sale of any
such bonds, provided that such services are not to be supplied by or
through a person, firm, limited liability company, or corporation
directly or indirectly interested in bidding on or purchasing such bonds.
[Pre-Local Government Recodification Citation: 19-8-5-4
part.]
As added by Acts 1980, P.L.8, SEC.19. Amended by
P.L.8-1993, SEC.47.